ISLAMABAD: Amid a global economic slowdown, Pakistan’s exports of non-textile products decreased 6.16 per cent year-on-year to $7.46 billion in the first eight months of FY23.
The stagnation in export proceeds of the non-textile sector was noted since the start of the current fiscal year as demand slowed down in the buyers’ market.
No growth was recorded in exports since September 2022 on a year-on-year basis, according to data compiled by the Pakistan Bureau of Statistics (PBS).
In FY22, the non-textile exports posted a growth of 25.85pc.
In the value-added leather sector, exports of leather garments fell by 8.37pc. The export of leather gloves dipped 0.31pc in July-February of 2022-23. Contrary to this, the exports of raw leather also decreased by 15.18pc.
Demand stagnates in buyers’ market
The export of cement dipped by 34.45pc during the first eight months this year from a year ago.
Pakistan is one of the main suppliers of global surgical instruments. However, these instruments are re-marketed in western countries by famous brands. As a result, the export value of these products remains very negligible.
The export of surgical instruments rose 8.16pc in 8MFY23 over the same period last year. The exports of pharmaceutical products also grew by 30.38pc.
The export of carpets dipped by 8.45pc while that of sports goods grew by 18.28pc in 8MFY23. The sales of footballs were up 35.70pc. Pakistan was the official football supplier to the FIFA World Cup held in Doha, Qatar in November 2022.
PBS data showed the food basket posted negative growth of 6.08pc in July-February from a year ago.
Under this category, exports of rice witnessed a negative growth of 12.09pc year-on-year in July-February mainly because of a drop in the demand for basmati rice.
The break-up showed that basmati exports in value decreased by 10.56pc and 25.18pc in quantity while non-basmati exports were down by 12.68pc in value and 16.78pc in quantity. The export of spices dipped by 14.30pc, followed by oilseeds, nuts by 26.02pc, fruits by 40.47pc, and vegetables by 3.65pc, respectively.
The export of meat and products was up 16.78pc, followed by the export of fish products increased by 12.09pc and tobacco by 26pc in July-February FY23 over the last year months. The export of gur and products was up by 6.60pc during the months under review.
Published in Dawn, March 19th, 2023
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